South Korean stock market rises over 1%, ending four-day losing streak as chip stocks rebound

South Korea's stock market rose more than 1% on Wednesday, ending a four-day losing streak as chipmakers rebounded and investors awaited the outcome of the Federal Reserve policy meeting for further market direction. Foreign investors were net sellers of stocks worth 1.7 trillion won (1.24 billion USD). SK Hynix extended its gains, closing up 4.08%, after Reuters reported that the chipmaker is in talks with Intel for its first deal to produce memory chips in the US. Fellow chipmaker Samsung Electronics rose 2.01%. Most economists surveyed by Reuters expect the Federal Reserve to raise interest rates tomorrow and to raise them at least once more by the end of March.